Business

Laos pledges to facilitate Vietnamese firms’ investment in agriculture

Lao Prime Minister Thongloun Sisoulith has pledged to create favourable conditions for Vietnamese firms to continue investing in agricultural development in Laos.
Laos pledges to facilitate Vietnamese firms’ investment in agriculture ảnh 1At the reception (Photo: VNA)

Vientiane (VNA) - Lao Prime Minister Thongloun Sisoulithhas pledged to create favourable conditions for Vietnamese firms to continue investing in agriculturaldevelopment in Laos.

At a reception in Vientiane on January 24 for Chairman of Truong Hai AutoCorporation (THACO) Tran Ba Duong and Chairman of Hoang Anh-Gia Lai Group DoanNguyen Duc, the Lao PM appreciated the two companies’ strategy on sustainable investmentin agriculture in Laos.He urged Hoang Anh Gia Lai and THACO to transfer technology to local people,helping Lao people to access modern agricultural production methods.

He also praised thecompanies’ commitment to complete and hand over the Nongkhang airport inHouaphanh province on the occasion of Laos’ National Day on December 2this year.
                       
The Hoang Anh-Gia Laiexecutive reported to the Lao PM that the group’s investment in Laos had beenaffected by the steep fall in the prices of rubber latex in the world market,which made the group unable to fulfil its commitment in building the Nongkhangairport.

He added that his grouphad signed a strategic deal with THACO in August last year,  under which THACO provided financial supportfor Hoang Anh Gia Lai to restructure and pay debts. Thanks to the assistance,Hoang Anh Gia Lai has overcome the most difficult period, stabilized itsfinance, and continued to invest in agriculture.
            
THACO Chairman Duongsaid his firm will supply agricultural machines and mechanization solutions forHoang Anh Gia Lai’s farm in the southern Lao province of Attapeu.
           
The company will also open a transportation route fromAttapeu to the THACO agro-forestry-industry park and Chu Lai port in Quang Namprovince through the Bo Y border gate in Kon Tum province.

Duong affirmed thatTHACO and Hoang Anh Gia Lai will work for the common target of developing fruittree cultivation in Laos.THACO will build a closed value chain in the field, expand the large-scalecultivation model and transfer technology to Lao farmers for the goal of developingsustainable and high-value agriculture in Laos.
           
According to Duong, THACO will advance 12 million USD to Hoang Anh Gia Lai to complete the remaining items at the Nongkhang airport. Itwill assign its subsidiary Dai Quang Minh to help with the management andsupervision of construction, so that the airport will be completed on scheduleas committed by the Hoang Anh Gia Lai group to the Lao PM.-VNA
VNA
#Lao Prime Minister Thongloun Sisoulith #Vietnam-Laos relations #Vietnamese businesses #THACO #Hoang Anh Gia Lai #Nongkhang airport #Vietnamplus #Vietnam News Agency Laos Vietnam
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